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Bulgarian Development Bank to Provide Liquidity to Agri Credit Unions

Business » FINANCE | June 6, 2014, Friday // 13:24| Views: 6383 | Comments: 0
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Bulgaria: Bulgarian Development Bank to Provide Liquidity to Agri Credit Unions Bulgaria's Deputy Prime Minister Daniela Bobeva, photo by BGNES

Daniela Bobeva, Deputy Prime Minister in charge of economic development, has presented a new instrument of the Bulgarian Development Bank (BDB) in the sphere of agriculture.

Speaking Friday in Parliament, she said that a special instrument was being developed through which the BDB would provide liquidity to credit corporations which brought together over 4000 agricultural producers, mostly small and middle-sized agricultural farms.

Bobeva, as cited by the Bulgarian Telegraph Agency, made clear that she had had a meeting with the Bulgarian Association of Cooperative Credit Organizations on the matter.

She argued that the measure would encourage the integration of the production for the purpose of domestic sales and for exports carried out in cooperation with the Ministry of Economy.

Bobeva said that the measure was expected to yield significant results in the sphere of agriculture, including industrial crops, as early as this season.

She informed that the first projects which were to be financed using this new product of the BDB were ready.

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Tags: Daniela Bobeva, Deputy Prime Minister, Bulgarian Development Bank, agricultural producers
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